Surplus Funds: What Mortgage Servicers Can Do To Recover These Funds

Written by Greg Oppenheimer

All properties owe real estate taxes to their local government agencies. When taxes owed are not paid, the property is typically sold at tax deed sale or tax lien certificate sale, allowing the government to collect the delinquencies, incurred costs, fees, etc. Once the property is sold, the jurisdiction deducts what is owed in delinquent taxes, fees, etc., and any funds leftover are deemed Surplus or Excess Funds. READ MORE

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